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RBI keeps key rates unchanged, raises inflation forecast slightly
Citing worries over the rising trajectory of inflation in the coming days, Reserve Bank of India (RBI) on Wednesday left its key policy rates unchanged on Wednesday. The central bank raised the inflation projection to 4.7 per cent at the upper end by March, while retaining growth estimates at 6.7 per cent for the current fiscal.
The 6-member Monetary Policy Committee in a 5:1 vote chose status quo on rates
in an effort to keep retail inflation within the target of 4 per cent plus or minus 200 bps, while supporting the country’s growth.
The RBI has increased its inflation projection by 10 basis points to 4.3-4.7 per cent in the second and the fourth quarters, from 4.2-4.6 per cent estimated in the October review.
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- CS cries assault by MLAs, AAP denies charge 21 Feb 2018 | Staff Reporter
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Sunday EditionView All
18 Feb 2018 | Gwynne Dyer
Now that Jacob Zuma has finally exited, the African National Congress, which has fallen a long way from its glory days, has one last chance to rebuild its reputation before next year’s election. Whether the ANC is the best bet for South Africans is a different question altogether As a passer-by in the upscale Johannesburg suburb of Saxonwold observed, the South African Police would never have raided the enormous, high-walled compound...
STATE EDITIONSView All
21 Feb 2018 | PNS | Ranchi
In a first major action, the Enforcement Directorate (ED) on Tuesday attached properties worth Rs 2 crore of Santhal Pargana Divisional Commissioner Pradeep Kumar allegedly earned through illegal means when he was secretary (health) from June 2008 to August 2009. Kumar, a 1991 batch IAS officer, has been accused of being involved in the NRHM (National Rural Health Mission) scam worth Rs 130 crore, taking bribe of Rs 4...